XRP broke its sideways movement after it breached its immediate support to fall lower. Despite a slew of announcements and XRP adoption, the price of XRP remains unaffected.
The price of XRP was $0.315, with the market cap at $12 billion, at press time. The 24-hour price change for XRP was -0.58%, while the 7-day price change was negative 2.69%.
The one-hour chart for XRP showed a dominant downtrend that extended from $0.3445 to $0.3171, while the uptrend ranged from $0.3072 to $0.3134. The price breached the support at $0.3160. Resistance points were seen at $0.3260 and $0.3489.
The Bollinger Bands were undergoing a squeeze, indicating that the volatility of XRP was drained out. The prices hung below the simple moving average, indicating the presence of bears.
The MACD indicator showed the signal and MACD line intertwined, indicating a tussle between the bulls and the bears.
The Awesome Oscillator showed small histograms of red and green over the zero-line.
The one-day chart showed a dominant downtrend that was progressing since May 2018. It extended from $0.9027 to $0.3257. The support at $0.2587 was holding XRP from dipping further below. Long-term resistance points were $0.5836, $0.6880, and $0.9027.
The Aroon indicator showed a rising red-line, which indicated an increase in the strength of the downtrend.
The Chaikin Money Flow line was below zero, indicating that money was flowing out of the XRP market.
The Relative Strength Index showed a balance between the momentum of sellers and buyers.
The one-hour chart indicated bearish pressure for the coin after the sudden drop in prices on 21 March. The indicators, Bollinger Bands, MACD, and Awesome Oscillator confirmed the same. The one-day chart showed an increase in the hold of the bears on the XRP market, as indicated by Aroon, Chaikin Money Flow, and Relative Strength Index.
Subscribe to AMBCrypto’s Newsletter
EOS rises by over 6%; Ripple’s XRP and Ethereum follow suit prompted by Bitcoin’s rally
Bitcoin, the largest cryptocurrency by market cap breached the $9,000-mark anchoring another market spin towards the bulls. The collective market cap stood at $285 billion, at press time.
Since the onset of 2019, Block.one, the parent firm of EOS had rolled out several significant technological upgrades on its EOS blockchain. Even as the price movement was underwhelming for the most part of the year, the sixth largest digital asset by market cap, EOS gained strong market support. At press time, EOS climbed by 6.11% and stood at a price of $7.13 with a market cap of $6.5 billion. The trading volume recorded for the past 24 hours was $2.55 billion.
With the much-anticipated Ethereum 2.0 blockchain rollout, the second largest cryptocurrency, on CoinMarketCap, garnered gained bullish momentum against the US Dollar. At press time, ETH rose by 3.67% over the past 24 hours and was priced at $275.1. The digital asset registered a market cap of $29.3 billion and a 24-hour trading volume $8.49 billion. Additionally, 4.2% of the trading volume was recorded at ZBG via the trading pair ETH/USDT.
Ripple’s focus has always been disrupting cross-border payment space following which the Brad Garlinghouse-led firm introduced new technologies, features, and network updates. Its native token, XRP, significantly leveraged from the recent developments as well as the market recovery steered by BTC.
At press time, the third largest digital coin was valued at $0.42 after posting 3.41% gains in the past 24-hours. XRP held a market cap of $17.92 billion and registered a 24-hour trading volume of $1.5 billion. 4.4% of XRP was being traded at ZBG via XRP/USDT.
Subscribe to AMBCrypto’s Newsletter
Bitcoin up for a long run as it re-visits an old bullish pattern
GateHub: Stolen XRP funds transferred to prominent exchanges
Bitcoin’s volatility – an indication of growth or regression?
XRP closes 48 million ledger; XRPL Labs introduces solution for users’ destination tag problem
8 crypto exchanges were shut down in 2019; how does that affect the overall crypto space?
Tron’s 24-hour DApp volume zooms ahead of both Ethereum and EOS
Bitcoin [BTC]: #DropGold campaign gets called out for being ‘Bitcoin cartel’
Tron’s [TRX] Sun Network testnet goes live as Justin Sun places bet on its ‘unlimited scaling capacity’
Ripple’s David Schwartz defends XRP against BTC’s ‘mediocre finality and censorship resistance’
Ripple’s David Schwartz breaks down how ILP and Coil will change the face of payments
Tron join hands with LATOKEN to become an IEO payment token
Bittrex follows Binance’s cue, delists over 40 altcoins from Bittrex US; sign of things to come?
Bitcoin’s ‘supply shock’ ahead, scaling progressing rapidly, says VC
Bitcoin prices would go upto $60,000 by August 2020 according to Stock-to-Flow analysis